Turkey (TUR) and Cyprus (CYP) Trade | The Observatory of Economic Complexity

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Turkey-Cyprus Trade: In 2023, Turkey exported $972M to Cyprus. The main products that Turkey exported to Cyprus were Coal Tar Oil ($93M), Raw Iron Bars ($86.3M), and Refined Petroleum ($77.8M). Over the past 5 years the exports of Turkey to Cyprus have increased at an annualized rate of 7.47%, from $678M in 2018 to $972M in 2023.

In 2009, Turkey exported services to Cyprus worth $3.1M, with Insurance services ($3.1M) being the largest in terms of value.

Cyprus-Turkey Trade: In 2023, Cyprus exported $121M to Turkey. The main products that Cyprus exported to Turkey were N/A. Over the past 5 years the exports of Cyprus to Turkey have increased at an annualized rate of 4.99%, from $94.7M in 2018 to $121M in 2023.

In 2020, Cyprus exported services to Turkey worth $1.14M, with Transportation ($1.14M) being the largest in terms of value.

Comparison In 2023, Turkey ranked 41 in the Economic Complexity Index (ECI 0.62), and 28 in total exports ($272B). That same year, Cyprus ranked 126 in total exports ($5.7B), and does not have data regarding Economic Complexity Index.

Historical Data

Bilateral Trade by Products

Depth

HS2

HS4

HS6

Value

Trade

Growth

Growth (%)

Year

In 2023, Turkey exported $972M to Cyprus. The main products exported from Turkey to Cyprus were Coal Tar Oil ($93M), Raw Iron Bars ($86.3M), and Refined Petroleum ($77.8M). During the last 5 years the exports of Turkey to Cyprus have increased at an annualized rate of 7.47%, from $678M in 2018 to $972M in 2023.

In 2018, Cyprus exported $121M to Turkey. There were not main exports from Cyprus to Turkey in 2018. During the last 5 years the exports of Cyprus to Turkey have increased at an annualized rate of 4.99%, from $94.7M in 2023 to $121M in 2018.

Exports from Turkey () to Cyprus () (2023)

Exports from Cyprus () to Turkey () (2023)

Latest Data

Trade between Turkey () and Cyprus ()

Turkey Exports

Date

Cyprus Exports

Date

Market Competitiveness

Color

Exports

Export Growth

Section

Year

Turkey
Top DestinationGermany$24.7B

Cyprus
Top DestinationLibya$775M

This map shows whether countries import more from Turkey or Cyprus. Each country is colored based on the difference in imports they receive from Turkey and Cyprus or the difference in the growth in imports.

In 2023, countries that imported more from Turkey than Cyprus included Germany ($24.7B), United States ($15.9B), and United Kingdom ($15.1B).

In 2023, countries that imported more from Cyprus than Turkey included Bermuda ($403M), Marshall Islands ($294M), and Curaçao ($494k).

Difference in imports from Cyprus () and Turkey () (2023)

Comparative Advantage Turkey - Cyprus

Flow

Section

HS2

HS4

Scale

Log

Linear

Year

This chart compares trade between Turkey and Cyprus by product, considering products traded by both, Turkey and Cyprus.

During 2023, Turkey had a large net trade with Cyprus in the exports of Mineral Products ($230M), Metals ($163M), and Foodstuffs ($161M).

During 2018, Cyprus had a large net trade with Turkey in the exports of Vegetable Products ($51.5M), Animal Products ($24.2M), and Metals ($18.1M).

Bilateral Service Trade

Cyp Year

Tur Year

2009

2008

In 2009, Turkey exported services to Cyprus worth $3.1M, with Insurance services ($3.1M) being the largest in terms of value.

In 2020, Cyprus exported services to Turkey worth $1.14M, with Transportation ($1.14M) being the largest in terms of value.

Service trade data is presented based on availability.

Services Exports from Turkey () to Cyprus () (2009)

Services Exports from Cyprus () to Turkey () (2020)

Service Trade

Economic Complexity

Competitive Landscape

Year

This visualization shows the product space at the HS4 level with the flags of Turkey and Cyprus. This means that a dot/product with the flag of Turkey indicates it has a comparative advantage over Cyprus. Similarly, a dot/product with the flag of Cyprus indicates it has a comparative advantage over Turkey.

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Historical Data

Bilateral Trade by Products

Exports from Turkey () to Cyprus () (2023)

Exports from Cyprus () to Turkey () (2023)

Latest Data

Trade between Turkey () and Cyprus ()

Turkey Exports

Cyprus Exports

Market Competitiveness

Difference in imports from Cyprus () and Turkey () (2023)

Comparative Advantage Turkey - Cyprus

Bilateral Service Trade

Services Exports from Turkey () to Cyprus () (2009)

Services Exports from Cyprus () to Turkey () (2020)

Service Trade

Economic Complexity

Competitive Landscape

Product Space of Turkey () and Cyprus () (2023)

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